On June 4th, Linyi Zhitong Supply Chain Management Co., Ltd., the upstream customer of Linyi International Eco-City Industrial Co., Ltd., successfully handled a supply chain bill discount service through the Linyi branch of Rizhao Bank, amounting to 5 million yuan. The supply chain bill was issued by Linyi International Eco-City Industrial Co., Ltd. on May 27 through the China Enterprise Cloud Chain platform. It is the first supply chain bill business in Linyi City. This business is also the first full-process online supply chain bill discount financing business jointly implemented by Shanghai Stock Exchange, China Enterprise Cloud Chain and Linyi City Banking Institutions.
Supply chain bills combine traditional bill business with supply chain finance scenarios to realize the functions of online multi-level circulation, splitting, discounting and pledge financing of bills. It is a supply chain financial innovation promoted by the People's Bank of China and the Shanghai Stock Exchange this year. The business model is to realize the billing of accounts payable of core enterprises, accelerate the transmission of core enterprise credit to small, medium and micro enterprises, effectively revitalize the accounts receivable of small, medium and micro enterprises, and promote the overall operating efficiency of the industrial chain.
In recent years, the state has introduced a series of measures to promote the development of supply chain and supply chain finance to solve the prominent problem of “difficult financing and expensive financing” of disadvantaged small and medium-sized enterprises. The promotion and application of supply chain bills will help further reduce the financing costs of enterprises and effectively resolve the stock of accounts receivable. With the continuous improvement of the functions of the supply chain bill platform, supply chain bills will also drive the bill market to better serve entities economic.
Source: Linyi Daily
